Key indices end lower for third session in a row
India, July 28 -- Indian equity benchmarks erased almost all their losses to end marginally in the red on Wednesday as the regulatory crackdowns in China continued to impact investor sentiment. Markets opened weak and saw panic selling, as the International Monetary Fund (IMF) has cut India's gross domestic product (GDP) growth forecast to 9.5 percent for the fiscal year to March 31, 2022 as the onset of a severe second COVID-19 wave cut into recovery momentum. This forecast for 2021-22 is lower than the 12.5 per cent growth in GDP that IMF had projected in April before the second wave took a grip. Some concern also came after department-related Parliamentary Standing Committee observes that the stimulus package announced by the government ...
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